``For its broking clients this service will be totally free. There will be no charges whatsoever in respect of demat for this category of clients. For the non-broking clients (ie those who do not trade even once a year through Geojit) there will be no account opening charges. Further, as an initial introductory offer for a period of six months, there will be no charges for dematerialisation of shares except for the courier charges. This facility is first of its kind in the country and this will only be for the clients in Mumbai,'' said C J George, managing director, Geojit Securities.

Kurien said Geojit is a unique public limited broking company established in participation with Kerala State Industrial Development Corporation (KSIDC) and listed on Ahmedabad, Cochin, Coimbatore, Delhi and Madras Stock Exchanges. It is the largest retail broking house in India in terms of number of NSE Vsats and number of retail clients and branch network of 40 spread over Kerala, Tamilnadu, Karnataka and Maharashtra.

George said the profit after tax has grown to about Rs 145 lakh last financial year which was almost double of the previous year. The company has declared dividend in all the four years with the rate of dividend steadily going up from 7.5 per cent to 15 per cent last year. In the area of depository services, it already has 25,000 accounts.